When will they dump US dollar financial instruments? Sooner or later is our answer.
A dear reader:
“To the average American, nothing much has changed in the financial world…
“According to ‘Business News’ on PBS, everything is actually OK – there is nothing to worry about. In fact, during the middle of 2008, all problems will be solved. But when will the Chinese ever dump their US treasury debts?”
A good question: when will the Asians get tired of funding America’s US$800 billion annual current account deficit? Of course, we don’t know the answer. By the evidence, they should have already done so.
But the Asians bought US dollar investments for two reasons:
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